Business Archives - Black Health Matters https://blackhealthmatters.com/category/lifestyle/business/ Black Health Matters, News, Articles, Stats, Events Mon, 28 Jul 2025 18:20:44 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.1 https://blackhealthmatters.com/wp-content/uploads/2022/03/favicon.png Business Archives - Black Health Matters https://blackhealthmatters.com/category/lifestyle/business/ 32 32 Why Are More Jobs Vanishing for Black Women? https://blackhealthmatters.com/why-are-more-jobs-are-vanishing-for-black-women/ Mon, 28 Jul 2025 18:17:25 +0000 https://blackhealthmatters.com/?p=53795 Month after month, more and more Black women are out of work. The troubling thing is, the numbers keep going up for us. According to the Bureau of Labor Statistics, […]

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Month after month, more and more Black women are out of work. The troubling thing is, the numbers keep going up for us.

According to the Bureau of Labor Statistics, the national unemployment rate held at 4.1 percent in June. But for Black women, the trend reads differently: 5.1 percent in March, 6.1 percent in April, 6.2 percent in May, and then 5.8 percent in June. These rates consistently hover near double those of white women, revealing long-standing disparities in access and vulnerability across the labor market.

The Cuts in Healthcare,  Education, and Federal Government Jobs

Black women shape every sector of the economy and contribute across every industry, but our presence is especially felt in fields such as healthcare, education, and federal service, where entire communities often rely on our labor. Recent workforce reductions are reshaping these sectors and cutting deep into places where Black women have historically led.

Between February and March 2025, seasonally adjusted data from the Bureau of Labor Statistics show employment among Black women fell from 10.566 million to 10.300 million. The 266,000-job drop marks the sharpest one-month decline since the early days of the pandemic.

Public sector cuts were especially severe:

  • The Department of Education reduced its workforce by 46 percent.
  •  The Department of Health and Human Services saw a 24 percent decrease.

Many of the affected roles were tied to equity programs and health outreach, spaces where Black women have shaped systems, built trust, and driven change.

According to the U.S. Equal Employment Opportunity Commission, Black women comprise 11.7 percent of the federal workforce, nearly twice their share of the civilian labor force. This statistic highlights the central role Black women play in the federal workforce and the consequences of their disappearance.

With New Job Market Growth, We Aren’t Getting Hired

In June, healthcare added 39,000 new jobs. Residential care gained 2,800 positions, while nursing added 14,400. However, many Black women continue to struggle to reenter industries where they bring valuable experience and dedication.

Being qualified isn’t always enough. Access to networks, clear hiring pathways, and employer outreach all shape who gets hired and who’s left waiting. Without these supports, short-term industry growth doesn’t deliver lasting stability.

Recessions Cost Us Even If We Are Educated

Black women have faced disproportionate job losses in nearly every major recession. During the Great Recession, their unemployment rate peaked at 13.7 percent, with deep losses across retail, education, and public service, as reported in a UC Berkeley Labor Center analysis.

Even higher education doesn’t guarantee protection. A 2020 Urban Institute analysis found that Black households led by college graduates had less wealth than white households headed by adults who had not finished high school. Systemic barriers persist and disparity cycles repeat, regardless of how far one climbs educationally.

Lost Jobs = Lost Opportunities to Build Generational Wealth

Black women often provide for multigenerational households. A lost paycheck is about more than covering rent; it can stall savings, slow investments, and shrink the possibility of financial mobility.

A Brookings analysis revealed that between 2019 and 2022, median household wealth stood at:

  •  Black households: $44,890.
  • Latino households: $62,000
  • White households: $285,000.

That means that white families held more than six times the wealth of Black families. While some progress may be happening, things are still unfolding within a system where equity is far from guaranteed.

Kristen Broady, senior economist at the Federal Reserve Bank of Chicago, told WTTW News:

“Changing or improving just one of those things is not going to change the racial wealth gap. But policymakers can look at any and all of those facts and statistics to decide how they can collaborate across different groups, philanthropy, higher education, state and local government, etc., to work on those policies.”

 Unemployment Carries An Emotional Toll

If this experience feels familiar, you’re far from alone. The emotional toll of job loss, especially in uncertain times, can shape how we move through the day, and how we see ourselves.

A 2024 study published in the Journal of Affective Disorders Reports found that unemployment can significantly affect emotional health, triggering symptoms like anxiety, depression, and difficulty with emotion regulation. The research points to how job loss disrupts cognitive control and heightens distress, especially for individuals navigating systemic pressures.

Periods of unemployment, especially extended ones, can carry real emotional weight. Experts call it situational depression, and it may feel like:

  •  A drop in motivation or energy.
  • Trouble sleeping or sleeping too much.
  • Changes in appetite or weight.
  •  Feelings of sadness, emptiness, or frustration.
  • Struggling to focus, make decisions, or stay present.

Naming these shifts doesn’t mean weakness; it’s simply acknowledging the truth, bringing you closer to creating space for healing, support, and recovery.

Charting the Way Forward

We need to take a serious look at how this economy treats us, especially during times of economic hardship. Closing the gap means tracking where jobs vanish, which roles get prioritized, and whether reentry is possible. Productivity numbers don’t tell the whole story. If reentry isn’t possible, how can those skills be used differently?

Historically, no one has ever handed us anything on a silver platter. We know now will be no different. But there are things we know and do better than anyone else. Maybe another industry can benefit from that expertise. The point is to pivot and move forward with purpose.

Resources

U.S. Bureau of Labor Statistics: U.S. Bureau of Labor Statistics

The Employment Situation – February 2025

African American Women in the Federal Sector

Current Employment Statistics Highlights June 2025

the-great-recession.pdf

Why Do Black College Graduates Have a Lower Homeownership Rate Than White People Who Dropped Out of High School? | Urban Institute

4 Ways to Get Your Neurodivergent Teen Ready for College – Black Health Matters

Black wealth is increasing, but so is the racial wealth gap | Brookings

Unemployment for Black Women is on the Rise. Here’s What Economists Have to Say | Chicago News | WTTW

 

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RedDrop, a Period Care Brand, Takes the Black Ambition Prize https://blackhealthmatters.com/reddrop-a-period-care-brand-takes-the-black-ambition-prize/ Tue, 17 Dec 2024 14:34:38 +0000 https://blackhealthmatters.com/?p=45149 Pharrell Williams’ Black Ambition, a non-profit initiative that works to close the opportunity and wealth gap through entrepreneurship, recently awarded over $2.7 million to 30 trailblazing Black and Hispanic founders. […]

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Pharrell Williams’ Black Ambition, a non-profit initiative that works to close the opportunity and wealth gap through entrepreneurship, recently awarded over $2.7 million to 30 trailblazing Black and Hispanic founders. The $1 million grand prize went to RedDrop, co-founded by Dr. Monica Williams, Dana Roberts, and Jarrod Shaw. The trio helms a brand of period kits for tweens that aims to empower and support girls so that they can grow into powerful women.

Monica and Dana shared that their journey began 16 years ago, and they officially founded RedDrop in 2019. Let’s hear from two-thirds of the dynamic trio about their incredible journey and the wisdom fueling RedDrop’s success.

BHM: Could you give us an overview of RedDrop and its mission? We’d love to hear about what your company does and how your passion for this venture began.

Monica: RedDrop exists to own the period care space for elementary, middle, and high school-aged girls. That means the best products and education.

We really believe in providing access to all those forms for young girls. Education is important because, in America, only half of U.S. states require health education, and that’s a valuable resource for families.

Dana: I am a lifelong educator, and about 16 years ago, in my fifth-grade girls’ class, girls were starting their periods with me. I started correlating, like, “Oh my gosh, I don’t want my daughter to be unprepared.” Outside of that, I realized I was a teacher and felt it was my ethical and moral responsibility to care for them. My godsister Monica had a business, and I said, “Hey, I’ve got an idea.”

Fast forward, RedDrop is here, and everything we do in our business is intentional about providing tweens and teenagers, elementary, middle, and high schoolers, with the best possible period experience, from their first to their next period.

BHM: How has RedDrop been received in the market so far?

Dana: We have over 100,000 orders, and we are impacting girls in schools. We’re pretty much in most states in the U.S. We impact over half a million girls in schools every single day.

We get feedback all the time through our social media platforms, saying, “I didn’t know how to have this conversation with my daughter; this just makes it easier. ” I feel like we have become validated in a sense.

Monica: Regarding market validation, we are a mid-seven-figure business that’s bootstrapped. It’s not because we forced it by paying for marketing; we do have a product that people want.

BHM: Congratulations on winning the Black Ambition Prize! What was your initial reaction when you found out you won?

Dana: It was surreal! I honestly get this question probably once or twice a week now from friends, family, and media. It’s surreal. It’s still a surreal experience. I thought I was going to pass out. I thought Monica was going to pass out. Winning this prize not only makes us feel seen and validated but also is a vote of confidence with dollars, mentorship, and resources to help us continue impacting girls worldwide.

 

BHM: What does winning this prize mean to you personally, and how does it align with RedDrop’s mission and strategic goals?

Dana: It makes you feel seen and validated. For RedDrop, it helps us be very proactive in our planning. It’s hard to plan when you don’t necessarily have funding to follow through on those plans. It allows you to plan with intention and gives you this runway to be a little more creative and innovative.

 

Monica: We have specific milestones and markers that will allow us to be more impactful and allow our business to grow exponentially. The actual cash prize allows us to do those things, but it also really provides an opportunity for us to prove that we can be the next “Always” or just insert any big brand here.

The reality is that 6000 girls a day experience their first period; no brand in this country really services girls in elementary, middle, and high school. As a brand, it’s our responsibility to do that and do it in an excellent way.

I think you show that as a business through profitability and growth, and that’s the goal.

BHM: What support, besides funding, have you received as Black Ambition Prize winners? Any mentorship or networking opportunities?

Monica: We just won 3 weeks ago. I expect many more opportunities to come. Black Ambition provides networking with past winners, offering a preview of what’s coming. Once you’re in the semifinals, you’re put into pods; our pod had five people and a mentor. That network makes the process less lonely. Dana mentioned how lonely and challenging it is, but Black Ambition connects you with others in similar situations.

As a winner, I had a call with Felicia Hatcher, CEO of Black Ambition. Her network is amazing! I expect the opportunities we can access are exponentially bigger.

I’m a third-time startup founder with some network, Dana is a lifelong educator, and Jarrod, our CFO, has corporate experience.

Our networks are deep in our field, but now we have access to a whole new realm of people. It’s super exciting. Listening to others, I think it’s going to be amazing.

BHM: What plans do you have for RedDrop? Are there any upcoming initiatives or projects you’re excited about?

Monica: I think we have an opportunity to help girls both domestically and internationally, especially through education and the right products. I’m excited about helping in Africa and various places throughout and here, not just in shelters but on college campuses and in homes where people are struggling.

I’m excited about those things, and we want to own the period care space for elementary, middle, and high school-aged girls. That’s a big statement. I think we can be impactful with active girls and plan to do that.

We can also be impactful in providing more innovative care and protection, and I’m excited about that.

As our conversation ended, RedDrop’s founders shared some valuable insights for aspiring entrepreneurs hoping to reach similar success. Dana stressed the importance of addressing meaningful issues, emphasizing, “Look at your business and the problem you’re trying to solve. Does it have a life-changing or positive impact on humanity?” She also highlighted the necessity of trusting someone with financial expertise.

Reflecting on her background, Dana noted how her experience in education adds a unique perspective: “As an educator, wanting to impact the world is one of the pillars of why RedDrop exists.”

Monica praised Dana’s problem-solving abilities, saying, “Dana often sees solutions that the rest of us miss.” Monica brings a lot of analytical depth to the team, while Jarrod’s financial planning is essential. “For us to grow to the level that we’ve grown is impossible without the level of detail to cash that we have through Jarrod,” said Monica.

RedDrop’s journey is a testament to the power of collaboration and shared vision, proving that impactful change is possible with the right team and mindset.

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Why Are Black Women Losing Their Jobs? https://blackhealthmatters.com/why-are-black-women-losing-their-jobs/ Thu, 18 Apr 2024 06:31:06 +0000 https://blackhealthmatters.com/?p=41540 According to the US Department of Labor, the Black unemployment rate hit a new high in March 2024. It is 6.4% for us, while the rate has decreased to 3.8 […]

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According to the US Department of Labor, the Black unemployment rate hit a new high in March 2024. It is 6.4% for us, while the rate has decreased to 3.8 overall. But when it comes to Black women, the situation is even more concerning. Our unemployment rate went from 4.4% to 5.6%.

People of Color in Tech reported, “In past business cycles, Black workers have been the last to be hired during expansions and first fired during contractions, so an increase in the Black unemployment rate is eye-catching to forecasters,” from Comerica Bank.

But if you look closely, we are represented in every industry where layoffs occur.

DEI Is Under Fire

Last summer, we saw three high-profile Black female Hollywood executives who happened to be DEI chiefs at major studios (Netflix, Warner Brothers Discovery, Disney) and the Academy of Motion Picture Arts and Sciences all lose their jobs over a ten-day period. According to Inc., companies including Zoom, Snap, Meta, Tesla, DoorDash, Lyft, Home Depot, and Wayfair cut DEI teams amid broader layoff plans. Even hospitals, like Johns Hopkins, bowed to the pressure, which led to the departure of Dr. Sherita Golden.

Tech Layoffs Hit Us Hard Too

According to Layoff. Fyi, in 2023, 1186 tech companies laid off 262,682 employees, and so far this year, 168 tech companies have already laid off 42,324. Although we only make up about 7% of the tech workforce, the layoffs disproportionately impacted us. Surprised, no. Okay, neither were we.

Last winter, Congresswoman Barbara Lee and the CBC sent a letter to the acting US Secretary of Labor,  Julie Su. “We write to express our concerns with recent reports highlighting the impacts of widespread layoffs within the tech industry and its disproportionate impacts on the African American community and women,” the group wrote.

Bloomberg News revealed “that people of color accounted for 94% of new hires at the US’ largest public companies in the year after the Black Lives Matter protests.” The latest findings show that organizations find a way to do it when pressured to hire and promote qualified, diverse talent.

Our take: sometimes, these moves are performative. You can tell when companies revoke programs when no one after a few years.

Others find the environment less than ideal and are happy to leave when the time comes. “Black people, especially Black women, have reported experiencing discrimination and bias in the tech industry, which can impact their career advancement and overall job satisfaction.” according to Forbes. They choose entrepreneurship instead.

The Healthcare Sector Took a Hit, Too

According to Challenger, Gray & Christmas, the healthcare category, which includes hospitals, medical technology, health insurers, and medical clinics, cut 58,560 jobs last year. An almost 100% increase over the year before. This year, Pfizer, Thermo Fisher Scientific,  Sanofi, Catalent, GSK, and Novartis will all restructure or reduce staff. And the healthcare industry employs more than 23% of Black women or more than one in five of us.

The Incredible Shrinking Media Business

Paramount handed out pink slips to over 800 employees across Paramount+ and Showtime. BET, Nickelodeon, and all their other networks. Sports Illustrated’s editorial team was gutted. Vice Media shut down, laying off hundreds of workers. And more than 3,000 jobs this year, plus those coming from Condé Nast. (Add that to the 21,400 media jobs lost last year).

Watch Out For a Change of Mood

When you are unemployed for a period of time, you may develop a form of situational depression. According to Medical News Today, symptoms might include:

Additional Symptoms can include:

(Financial stress may trigger symptoms)

Consider Entrepreneurship

However, as we are pushed out of lucrative positions, many of us have no choice but to try entrepreneurship. According to The Brookings Institute, between 2017 and 2020, the number of Black women-owned businesses increased by nearly 20%, far exceeding the growth of women-owned and Black-owned businesses.

If you decide to strike out your own, check out serial entrepreneur Kathryn Finney’s tips on avoiding entrepreneurial overwhelm.

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Kathryn Finney’s Tips For Avoiding Entrepreneurial Overwhelm https://blackhealthmatters.com/kathryn-finneys-tips-for-avoiding-entrepreneurial-overwhelm/ Fri, 29 Mar 2024 01:02:27 +0000 https://blackhealthmatters.com/?p=41265 While we make up 10% of the population, Black women are the fastest-growing segment of entrepreneurs in the country, according to new research by GoDaddy. Many of us romanticize the […]

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While we make up 10% of the population, Black women are the fastest-growing segment of entrepreneurs in the country, according to new research by GoDaddy. Many of us romanticize the idea of running our businesses. But trust us, launching one is more than a notion. That overwhelming feeling can quickly overtake anyone entering a new venture. So, we asked serial entrepreneur Kathryn Finney, Founder of Genius Guild, a venture fund, for her top tips for avoiding entrepreneurial overwhelm for Black women considering taking the entrepreneurial leap.

Start With a Simple Idea

Just because you have an idea you love, you shouldn’t necessarily invest your life savings right away. Finney, the author of Build the Damn Thing: How to Start a Successful Business, says, “The”best way to know if your idea is good is to create a very simple version of the idea and put it out there for real feedback from potential customers.

She further explains, “That feedback will give you a sense of whether there is a valid market for your idea before you spend a lot of time and money on it. You can then use that feedback to iterate on your idea and make it even better with the confidence of knowing that your idea creates a solution that people will pay for.”

Develop a Set of Core Values

According to Finney, the first year of business can be overwhelming, especially if this is your first company. “You can get so caught up in all the initial steps you need to transform your idea into a viable product that you forget that you also have to have a sustainable way to keep making that product,” she explains. You may have been so focused on how to raise the money you needed that you neglected to set up financial management systems to keep track of the money as it comes in so that you can manage it better. Or maybe you concentrated so much on hiring the right people that you haven’t thought about how they will all work together to help you execute your vision.”

“Instead of getting overwhelmed by present challenges, she suggests having a long-term strategy. “When I was starting Genius Guild, one of the first things I did was to create a set of core values, which served as a kind of North Star, for what I wanted my company to be,” she explains. “By having those values to fall back on, I was able to make sure I kept my focus on the next few years of my company rather than just the next two weeks.”

The Risk and Reward of Entrepreneurship

When someone decides to start a business, they are taking a risk. However, there are creative rewards that are immeasurable. “Building your own company is a way to have a creative life you control. Imagine creating something you truly believe in, watching it succeed beyond your wildest dreams, and then getting paid for the value you’ve created,” Finney says.”That’s the promise of building your own damn thing. For me, deciding what to do with my capital and money from time to time was very liberating and worth the risk of possible failure.”

Personally, Finney loves running her current company. “I also love that running my own venture firm, Genius Guild, allows me to look for investment opportunities that are solid businesses that also contribute to the betterment of the community they serve. I want to help build a world where everyone can win, and creating Genius Guild allows me to do just that.

Smart, Successful Entrepreneurs Have Balanced Lives

Finney stresses that entrepreneurship is hard. It’s It’s easy, tough, or exhausting. And because it’s hard, losing yourself entirely in your company can be tempting. She says to decide that you don’t have time for your personal well-being, health, or family because you feel like all you should be doing is working.

This is a recipe for disaster. Remember that the company will not be good if you’re not good. So, taking time to get yourself in a good place is the most important thing you can do to ensure your company’s success before you build it.

“Smart, successful entrepreneurs have no problem spending time on their mental and spiritual health because they know that getting their mind right is crucial to getting their company right,” she” says. That means finding what works for you, getting home for dinner at night, getting to the gym, and practicing consistent meditation.

Finney says, “Because you are the hub of your company, your self-care is also your company’s self-care.”

 

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